About Coin Collector's University

Coin Collector's University was created by the Numismatists &
coin enthusiasts at American
Coin & Stamp Brokerage. Our goal is to help answer
the most commonly asked questions about coin collecting. We understand the more you know about coin collecting
the more rewarding & enjoyable it will be. We understand because coin collecting is not only our business,
it's our passion.

n. The amount or price offered for an item or the amount an item is expected to sell for
at auction.v. To offer an amount or price for an item.

billon

An alloy of silver and another metal, usually copper, which is less than 50% silver.

bi-metallic

A coin or coin-like object combining parts composed of two different metal alloys.

bit

Pieces of eight were physically cut into eighths; each piece is one bit.

blank

A piece of metal being prepared for coinage before the rims have been raised by passing through the upsetting
mill.

BN

Brown. Color grade for uncirculated copper coins.

bourse

A location where dealers buy and sell coins with each other and the public, such as at a coin show.

broadstrike/broadstruck

A coin struck without a firmly seated collar, resulting in "spreading" outwards, but still showing
all design details.

brockage

A mirror image of the design from one side of a coin impressed on the opposite side - occasionally, a newly
struck coin "sticks" to a die, causing the next coin struck to have a First Strike Mirror Brockage of
the coin stuck to the die; by the second strike the mirror is distorted, and later strikes are termed Struck Through
A Capped Die.

BU

Brilliant Uncirculated. A grade with a numerical value equal to about MS60-62.

bullion

A coin or other object composed primarily of a precious metal, with little or no value beyond that of the metal.

Bureau of Engraving and Printing

An agency of the U.S. Treasury Department responsible for production of currency.

business strike or business issue

A coin struck and intended for circulation.

BV

Bullion Value. The value of the coin is closely related to its metallic content (usually silver or gold).

C

Charlotte (North Carolina). Mintmark, 1838-61, gold coins only.

C# (C1-C23?)

Cohen number (1982). Die variety - Half Cents, 1793-1857.

Canadian

Post confederation Canadian numismatics.

cameo

A coin, usually struck as a Proof, with a frosted or satiny central device surrounded by a mirrorlike field.

cartwheel

The pattern of light reflected by flow lines of mint state coins, resembling spokes of a wheel;
Name given to the British pennies and twopences of 1797 due to their unusually broad rims.

CC

Carson City (Nevada). Mintmark, 1870-93, gold and silver coins only.

certified coin

A coin authenticated and graded by a professional service.

cherrypick

To find and purchase a coin worth a premium over the seller's asking price (generally a rare die variety priced
appropriately for a more common variety).

chop mark

A symbol (added to money by someone other than the government which issued it) to indicate authenticity.

circulated

Denotes money that is no longer in mint state, generally as a result of normal handling and exchange.

clad

Composed of more than one layer, such as the copper-nickel over copper composition of U.S. dimes, quarters,
and halves minted presently.

clash mark(s)

Outlines and/or traces of designs from the opposite side of a coin resulting from die clash.

cleaning

Any process that removes foreign substances, corrosion or toning, e.g. application of solvents, dipping, and
rubbing with abrasive materials or substances.

cleaned coin

While any coin subjected to a cleaning process could technically be considered cleaned, this term most commonly
refers to those which have been abrasively cleaned (a coin which has been abrasively cleaned generally has a lower
numismatic value than an otherwise comparable uncleaned specimen).

clip

A coin, planchet or blank missing a portion of metal from its periphery, caused by an error during blank production;
types of clips include curved (most common), ragged, straight, eliptical, bowtie, disk and assay.

clipping

Deliberate shearing or shaving from the edge of gold and silver coins. Patterns and mottos are included on
edges of many coins to discourage the practice.

Physical change to a numismatic item, such as a scratch, nick, ding, cleaning, hole, pitting the effects of
chemicals or environment, etc.

date

The year(s) shown on a coin, usually the same as the year it was minted.

DC (also DCAM)

Deep Cameo. High grade proof.

DCAM

Deep Cameo. High grade proof.

DDO

Doubled Die Obverse. Type of die variety.

DDR

Doubled Die Reverse. Type of die variety.

dealer

A person or company that regularly buys and sells numismatic collectibles.

dealer buy price

The price at which most dealers are currently buying a particular coin. The price a dealer buys a coin for.

deep mirror prooflike (DMPL)

Having highly reflective mirrorlike fields, similar to a coin struck as a Proof.

delamination

Metal missing or retained but peeling from the surface due to incomplete bonding or impurities in the planchet.

denarius

An ancient Roman silver coin weighing about 3 grams, roughly the same size as a U.S. dime but thicker.

denomination

The face value of a coin. It's monetary worth as legal tender.

denticles

Tooth like raise features just inside the rim of some coins (also known as dentils).

design

The devices, lettering, etc. appearing on a coin and their arrangement with respect to each other.

designer

The creator of a coin's design.

device

A major design element, such as the bust of a person.

die

A usually cylindrical piece of steel bearing at one end the incuse design of one side of a coin (except for
coins with incuse detail, where the die details are in relief).

die chip

A small fragment broken off from a die; metal flowing into the resulting hole during striking results in a
small raised lump on the surface of the coin.

die clash

Upper and lower dies coming together in a coin press without a planchet between them; design details may be
partially impressed in the opposite dies and subsequently as mirror images on coins struck from the clashed dies.

die crack

A narrow fissure in the surface of a die; coins struck with such a die have a narrow raised line corresponding
to the crack.

die erosion

Wear on a die from use in the minting process.

die flow lines

(see "flow lines")

die state

The condition of a die at a particular point in its life.

die polish

Small raised lines in the field of a coin resulting from polishing of a die to remove chips, clash marks, etc.

dipping

Cleaning by immersion in a liquid capable of removing molecules from the surface, such as a solution containing
thiourea.

disme

The original spelling of dime, 1/10 of a dollar.

DMPL

Deep Mirror Proof Like. Business strike, with deep mirrored planchet.

double denomination

A rare error in which a previously struck coin is restruck by the die pair of another denomination.

double die

A dubious term sometimes intended to mean a doubled die coin and sometimes indicating machine doubling (because
there is often a substantial difference in value between the two, a savvy buyer will be sure to determine which
case is true for any coin described as such).

doubled die

A die with doubled device details, letters and/or numerals resulting from any of several possible differences
between the multiple hub impressions during its manufacture; a coin struck from such a die.

double eagle

A U.S. gold coin with a face value of $20, first minted in 1849 and last officially minted in 1932.

drachma

An ancient Greek silver coin weighing about 3 grams, roughly the same size as U.S. dime but thicker.

EAC

Early American Coppers, Inc. Collector and dealer organization.

eagle

A U.S. gold coin with a face value of $10, first minted in 1795 and last minted in 1933; also, the current
U.S. $50 face value gold bullion coin.

edge

The "third side" of a coin, encompassing the perimeter.

EF (EF40, EF45)

Extremely Fine. Grade.

E Pluribus Unum

"Out of many, one"; the motto on many U.S. coins.

error

Any unintentional deviation in the minting process resulting in one or more coins with a different appearance
than intended.

exergue

The lower part of a coin or medal, usually divided from the field by a line and often containing the date,
mintmark or engraver's initial(s).

exonumia

Tokens, medals and other non-monetary coin-like objects.

eye appeal

Overall attractiveness (beauty is in the eye of the beholder).

F (F12, F15)

Fine. Grade.

face value

The ordinary monetary worth of a coin or note at the time of issue.

fair market value

The American Heritage Dictionary descibes it as "the price, as of a commodity or service, at which both
buyers and sellers agree to do business". To many people "fair market value" has come to mean the
most commonly accepted price at which the majority of buyers and sellers agree to do business.

field

The flat background on a coin, medal or token.

fishscale

Canadian five cents silver coin or United States three cent silver coin.

flan

British term for a planchet.

flip

A clear, soft plastic holder normally used for a single coin.

flow lines

Microscopic lines in the surface of a coin resulting from the outward flow of metal during striking.

fiat money

Money that is not backed by specie and is legal tender by decree.

fractional currency

Paper money with a face value of less than one dollar.

FS# (FS1-FS?)

Fivaz and Stanton number (19xx). Die variety - many series.

fugio cent

The first coin issued by authority of the United States, produced by contractors in 1787.

G (G4, G6)

Good. Grade.

galvano

An epoxy coated plaster relief model of a coin, token or medal created by electrodeposition (much larger than
the dies later created from it).

GMM

Gallery Mint Museum. A current producer of replicas of early US coins.

grade/grading

One of several terms summarizing the overall condition of a coin or other numismatic item; the process of evaluation
leading to assignment of a grade.

Greysheet

the Coin Dealer Newsletter, a price guide for U.S. coins intended for dealer-to-dealer sight seen
transactions.

hairlines

Light scratches in the surface of a coin.

half cent.

A U.S. coin with a face value of 1/200th of a dollar first minted in 1793 and last minted in 1857

half dime

A U.S. coin with a face value of 5 cents issued with dates between 1794 and 1873; originally called a half
disme.

half eagle

A U.S. gold coin with a face value of $5 first minted in 1795 and last minted in 1929.

hobo nickel

A coin (usually a U.S. Buffalo nickel) physically altered to produce a substantially different image.

holed

Having a hole drilled through it, usually as a result of being used for jewelry.

holder

Any device designed for storage and sometimes display of numismatic items.

hub

A steel bar used to make dies having the same raised design on one end as one side of the coins ultimately
produced.

ICGS

Grading service. Independent Coin Grading Service.

impaired proof

A proof coin with wear or damage resulting from circulation or other handling.

incuse

The opposite of relief -- design elements are impressed into the surface.

The rarest (or one of the most rare) and therefore most expensive members of a coin series, e.g. the 1909-S
VDB Lincoln cent or 1916-D Mercury dime.

KM# (KM1-KM?)

Krause and Mishler number. From Standard Catalog of World Coins. Type of world coin. Includes California,
Mormon, Colorado, Hawaii.

Krause

A numismatic publishing company (Krause Publications); this company's Standard Catalog of World Coins.

lamination flaw

(see "delamination")

large cent

A U.S. coin with a value of 1 cent, minted from 1793 to 1857, composed primarily of copper and larger in diameter
than the current U.S. quarter or A similar Canadian coin issued between 1858-1920.

legal tender

Money that may be legally offered in payment of an obligation and that a creditor must accept (source: Webster's
New World Dictionary).

legend

Lettering on a coin other than the denomination or nation which issued it

loonie

Popular name for the Canadian loon dollar coin first issued in 1987.

loupe

A type of magnifying glass used by numismatists and jewelers.

love token

A coin (or sometimes a token) which has been altered by someone as a rememberance or in a tribute to another
person. Most commonly a love token will have a loved one's name or intitials engraved into it. Some love tokens
have been painstakingly engraved with elaborate scrollwork.

luster

The brilliance of a coin, resulting from reflection of light off die flow lines.

machine doubling

Doubling of details resulting from loose dies during striking (generally considered to have no numismatic value).

mail bid

An auction format in which bids are submitted by mail; the highest offer for each lot received by the closing
date wins the lot (several other rules usually apply).

matte proof

A proof coin with a granular (rather than mirrorlike) surface produced by dies treated to obtain a minutely
etched surfaces (usually in the raised portion of the coin's design).

medal

A coin-like object struck to honor one or more persons or events depicted or mentioned in its design; an object
awarded to persons in recognition of service or other accomplishment.

melt/melt value

The worth of precious metal in a coin, determined by multiplying the amount of the metal it contains by the
spot price of the metal.

mint

A facility for manufacturing coins.

mintage

The quantity of a denomination of coins produced at a mint during a period of time (usually one year).

mint bloom

The original surface of a newly minted coin.

mintmark

A letter or symbol designating the mint which produced the item bearing it.

mint set

A specially packaged group of uncirculated coins from one or more mints of the same nation containing at least
one coin for most or all of the denominations issued during a particular year.

mint state

In the same condition as when delivered from the mint (natural toning excepted); uncirculated.

misplaced date

One or more digits of a date punched away from the intended location, such as in the denticles or in the central
design.

motto

A phrase imprinted on a coin, for most U.S. coins "E PLURIBUS UNUM".

MS (MS60-MS70)

Mint State. (Uncirculated, business strike). Grade.

mule

A coin struck from two dies not intended to be used together.

multiple strike

A coin struck more than once as a result of not being properly ejected from the coining press.

mylars or mylar coin holders

This commonly refers to a holder made from cardboard which has two coin-sized holes cut out in a particular
denomination. The holes are covered with a plastic film (mylar). A coin is placed in one cut out aread and the
cardboard is folded in half, allowing both sides of the coin to be seen through the plastic film. The cardboard
is usually held together by staples or glue (as with pre-glued mylars). Mylar film is used because it has no known
chemicals which may cause damage to coins, however, a coin may become toned from chemicals which are found in some
staples, gum, or tape.

N# (N1-N17?)

Newcomb number (1944). Die variety - Large Cents, 1816-1868.

N# (N1-N105?)

Newman number (1952). Die variety - Fugio Cents, 1787.

natural toning

Coloration resulting from chemical change on the surface during normal environmental exposure over a prolonged
period.

NC

Not Collectable. A unique or nearly unique coin. Usually one of Sheldon's die varieties of Large Cents. At
the time of Sheldon's "Penny Whimsey" (1958), for a coin to be NC, there had to be less than 3 specimens
known.

net price

A term signifying that the seller is unwilling to sell for less than the price marked.

An infrequently encountered or available item; the number of surviving specimens of a particular issue, as
may be indicated by a rarity scale index.

rarity scale

A convention for designating the rarity of a coin, such as Sheldon's system (with values such as R1 for common
pieces and R6 for extremely rare specimens) and the Universal Rarity Scale invented by Alan Herbert (with designations
such as URS3).

RB

Red-Brown. Color grade for uncirculated copper coins (BN, RB, or RD).

RD

Red. Color grade for uncirculated copper coins (BN, RB, or RD).

real

A former basic monetary unit of Spain and Spanish colonies in the Americas.

Red Book

The Handbook of U.S. Coins, a retail price guide for U.S. coins published annually, originally written
by R.S. Yeoman.

reeded edge

An edge with raised parallel lines, a.k.a. milled or grained.

relief

Features rising above the field.

repunched date

A date with one or more of the digits punched more than once in different locations and/or orientations.

repunched mintmark (RPM)

A mintmark punched more than once in different locations and/or orientations.

restrike

A coin struck with authentic dies later than the date it bears.

retail or retail price

The price at which a coin or item is commonly sold in a retail store. Price of an item sold to "end"
user or collector.

reverse

The back or "tails" side of a coin.

RIC

Roman Imperial Coinage.

rim

The outer edge of a coin, often raised to avoid premature wear.

round

A disc shaped piece of precious metal bullion.

RPC

Roman Provincial Coinage.

RPD

RePunched Date. Type of die variety.

RPM

RePunched Mintmark. Type of die variety.

RSC

Roman Silver Coinage.

S

San Francisco (California). Mintmark, 1854-1955, 1968-present.

S# (S1-S295?)

Sheldon number (1949). Die variety - Large Cents, 1793-1814.

S# (S1-S9?)

Snow number (1992). Die variety - Flying Eagle and Indian Head Cents, 1856-1909.

Coins of the same major design and denomination, including every combination of date and mintmark minted, e.g.
Morgan dollars.

Sheldon scale

A numerical grading system ranging from 1 to 70 created by Dr. William H. Sheldon to denote proportional values
of large cents minted from 1793 to 1814 and subsequently adaped as a general grading scale.

shinplaster

Canadian fractional banknotes.

sight seen

Available for examination to a potential buyer before a purchase decision is made.

sight unseen

Not available for examination to a potential buyer before a purchase decision is made, as is usually the case
with mail order transactions.

silver certificate

A note (paper money) once redeemable for its face value in silver.

silver clad

A clad coin with one layer containing silver, such as U.S. halves struck from 1965 to 1970.

silver eagle

A coin produced by the U.S. mint beginning in 1986 containing one ounce of silver and having a nominal face
value of $1 (not released for circulation).

slab

A coin certified by a professional grading service as authentic and encapsulated in a sealed hard plastic holder
also containing a label bearing the service's opinion of its grade and other information.

slider

A coin with very slight traces of wear, such that it almost passes for an uncirculated specimen.

SP

Specimen. Better than business strike, but not quite a proof.

specie

Precious metal used to back money, usually gold and silver.

split grade

Different grades for the obverse and reverse sides.

spot

Short for spot price.
A small area of corrosion or foreign substance

spot price

The market price for immediate delivery of a commodity, such as a precious metal.

spread

The difference between buy and sell prices on the same item(s) of a dealer, broker, etc.
The extent of separation between impressions on a doubled die.

stella

A U.S. gold coin pattern with a face value of $4 minted in 1879 and 1880.

striations

Incuse marks caused by rolling bars during planchet production.

strike

The process of impressing the design from a die into a planchet to make a coin, token or medal;
The completeness of detail (as in weak strike, full strike, etc.) created during this process.

strike doubling

See machine doubling.

tetradrachma

An ancient Greek silver coin weighing about 13 to 17 grams, roughly the same size as a U.S. quarter but three
times thicker.

thumbing

The rubbing of skin oil onto a coin in an attempt to hide contact marks.

token

A coin-like object redeemable for a particular product or service, such as transportation on a bus or subway;
an unofficial coin issued by a business or town to be used as small change, e.g., in 17th-19th century Britain,
and in France in the 20th century.

toning

Color acquired from chemical change on the surface.

trade dollar

A U.S. coin with a face value of $1 minted from 1873 through 1885 specifically for commerce in the Orient;
A U.K. coin with a face value of $1 minted from 1895 through 1935 specifically for commerce in the Orient.

trime

A U.S. coin with a face value of 3 cents minted in predominantly silver alloys from 1851-1873.

tube

A plastic container designed for storing a roll or other quantity of coins of the same size.

type coin

Any coin of a particular design and denomination, usually one of the more common dates.

type set

A collection of coins of various designs; rather than try to complete the series, the goal of the type collector
is to obtain at least one example of several different types.

UC (UCAM)

Ultra Cameo. High grade proof.

UNC (Unc., MS60?)

Uncirculated. Grade.

uncirculated

Never circulated; without any wear.

V# (V1-V10?)

Valentine number (1975). Die variety - Half Dimes, 1794-1873.

VAM

Any variety of U.S. silver dollar described in the book Morgan and Peace Dollars by Van Allen and
Mallis.

variety

Any coin struck from a die pair that differs from others with the same date and mintmark, such as one exhibiting
die doubling, different style letters or numerals, or a repunched mintmark.

A tabulation of collectibles sought by a collector, often including limits on condition and/or price.

water mark

A design put into paper at the manufacuring stage by pressing it while wet between rollers bearing the design.

wear

Metal lost during handling and contact with other objects.

whizzing

Alteration by mechanical polishing to produce a shiny surface.

world coins

Coins issued by various nations, as in a collection comprised of coins thereof.

XF (XF40, XF45)

eXtremely Fine. Grade.

Disclaimer

Coin Collector's University attempts to address the most commonly
asked questions about coin collecting. It is intended only as a general guide to the hobby. The information found
in this website should not be misconstrued as an actual course in Numismatics and is in no way intended for use
as investment advice. Inclusion or mention of a product, dealer or company in this FAQ does not constitute an endorsement
or recommendation.